Emera (TSE:EMA) Hits New 52-Week High – Here’s What Happened

Emera Incorporated (TSE:EMA) shares hit a new 52-week high on Thursday . The company traded as high as C$62.48 and last traded at C$61.89, with a volume of 119552 shares changing hands. The stock had previously closed at C$60.91.

Wall Street Analysts Forecast Growth

EMA has been the topic of a number of research analyst reports. BMO Capital Markets upped their target price on shares of Emera from C$58.00 to C$60.00 in a research note on Monday, February 24th. UBS Group increased their price objective on Emera from C$54.00 to C$59.00 in a research note on Friday, March 21st. JPMorgan Chase & Co. raised Emera from an “underperform” rating to a “neutral” rating and lifted their target price for the company from C$51.00 to C$56.00 in a research report on Thursday, December 12th. Wells Fargo & Company upped their target price on Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. Finally, Royal Bank of Canada raised their price target on Emera from C$60.00 to C$63.00 in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$58.55.

Emera Stock Down 2.3 %

The business’s fifty day moving average price is C$57.81 and its two-hundred day moving average price is C$54.60. The company has a debt-to-equity ratio of 150.23, a quick ratio of 0.23 and a current ratio of 0.72. The firm has a market capitalization of C$17.84 billion, a P/E ratio of 23.59, a PEG ratio of 6.20 and a beta of 0.35.

Emera Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were issued a $0.725 dividend. This represents a $2.90 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Friday, January 31st. Emera’s dividend payout ratio is currently 112.40%.

About Emera

Emera Incorporated, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.